“Socialtext closed its Series A round with existing investors such as Joi Ito, Reid Hoffman, Mark Pincus and Freedom Technology Ventures — and new investors Jun Makihara and Omidyar Network.” says the Socialtext Blog.

This exciting new development in the social networking space will allow Socialtext to “build upon our market leadership and fulfill a mission we began in 2002″. More specifically, Socialtext is, obviously, looking to provide more features for users, grow their already active community and continue to improve in this space, particularly through providing very realistic and approachable services that regular users will find beneficial.